Bin Laden’s death affecting economy?
Could the death of the face of modern terrorism, the master mind behind the attacks on the Twin Towers on September 11th, and the most wanted man in America affect the United States economy? According to Warren Buffet, Chairman of Berkshire Hathaway, the economy most likely will not be affected. Buffet feels that due to recent occurrences like the killing of Bin Laden that the economy won’t change. History also says the same thing as Buffet. Some of the companies that would be affected by the killing of Bin Laden would be the insurance companies. The demand for better insurance or insurance in general could go one of two ways. One way would be a demand increase for insurance. The death of Osama Bin Laden could make consumers of insurance want better coverage because of the fear that Al-Qaeda might retaliate due to the death of their leader. The other way would be that insurance companies see a decrease in demand. This idea would not be practical in my opinion, but some might feel that acts of terrorism might hardly happen due to Bin Laden’s death. Back to the ideas of business genius, Warren Buffet: he feels that natural disasters will and have had a much stronger impact on the “slow” but steady United States economy. The economy can climb and fall within a day. The ten year hunt for the most dangerous man in the world came to an end in a matter of minutes. Do you think there will be a demand for things like insurance? Another set of companies that could profit from this death are the airline companies. Traveling has been a hassle ever since the September 11th attacks, but all for good reason. There could now be an increase in consumers for airline companies because they now feel more comfortable traveling abroad. The killing of Bin Laden was just the first major step in ending the War on Terror, but for now the ending process will be just as slow as the current United States economy. http://www.foxbusiness.com/markets/2011/05/02/warren-liz-derail-slow-steady-recovery/
-Mason Reiter
The death of Bin Laden was a great victory for the United States but with his death also brought fear that Al Qaeda might retaliate. Al Qaeda has attacked before and are not scared to do it again. The question of if his death affects the U.S. is one that is not yet completely answered. In my opinion his death did not affect the economy, but only the peoples demand in insurance. Some people fear that Al Qaeda might want to retaliate and attack the U.S. because of Bin Laden’s death. Others think the exact opposite and that there will be less threats of Al Qaeda attacking. I think people should start buying more and better insurance due to the fact that there could be war attacks from killing their leader. It’s more likely that Al Qaeda is going to attack then not. They have had it with U.S. and they are coming with an attack. People need to get safety and buy the best insurance they can for their families sake.
ReplyDeleteI Agree with George and Mason. Like both of ya'll said, Al-Qaeda are more than capable to attack the United States. They have before and will most likely do it again. I do not think that the demand of insurance will decrease. The people of the United States are not naive enough to think that the threat is finally over. As for the rest of the economy I think there will be no significant changes if any. Minor hiccups have occured already, like the man, so shortly after the news of Bin Laden's death, who created t-shirts about his death and netted over $120,000 in two days. Side note but economical.
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